Africa-Press – Angola. The main products exported by Angola recorded a reduction in volume in the first four months of this year, 2023, with emphasis on the oil sector, whose revenue fell 32.4% compared to the same period last year.
According to the report on “Exchange rate evolution in the first four months”, there was a contraction in the average price of Angolan branches by 23.3% and in average daily production by 9.6%, which caused a drop in crude oil export earnings.
Also according to the Central Bank, all categories of products exported by the country fell in the first four months of this year, with greater emphasis on exports in the oil sector.
According to the Central Bank report, Angola exported 116.1 million barrels of crude oil, with a negative variation of 11.9% in the first four months of this year.
In terms of monetary volume, according to the document, it also had a negative variation of 32.4%, from USD 13,663.9 million, in the first four months of 2022, to USD 9,232.1 million, in the four months of this year.
The average price of a barrel also had a negative variation of 23.3%. In the first quarter of 2022, the average price was USD 103.7/barrel, while in the first quarter of this year it was set at USD 79.5.
In the field of gas, likewise, there were variations both in revenues and in exports.
In terms of revenue, USD 83.7 million was raised as a result of the export of 1,874.7 thousand barrels at a price of USD 44.7/per barrel.
When compared to the same period of the previous year, revenues fell by 42.8%, given that the “earnings” of the first four months of 2022 stood at 146.4 million, a period in which 2,240.1 thousand barrels were exported at the average price of USD 65.3.
In the diamond sector, the volume of revenue fell by 11.4%, having obtained a volume of USD 230.9 million against USD 599.1 million compared to the same period last year.
Despite an increase in the volume of exported stones of around 3,152.9 thousand carats (38.5%), the price dictated the rules in terms of revenue collected.
In the same period, a carat of diamonds was sold for USD 263.2, against USD 168.4 for the average price traded in the first four months of this year.
The decline in exports and revenues also affected the liquefied natural gas (LNG) subsector, refined products and other areas.
For More News And Analysis About Angola Follow Africa-Press
